Waterbury evening Democrat., 1887-12-31
THE PACIFIC RAILROADS.
THE COMMISSIONERS REPORT GIVEN
 TO THE PRESIDENT.
The Majority Recommends That an Ex- tension of Fifty Years be Granted, and the Government Secured-The Minority Urges the Forfeiture of Charters.

IdcIuc TallrOaCS nave SuDmlCt00 to the pres. 1dent two reports-a ma jority one by Messrs. Anderson and Littler, and minority one by Mir. Pattison.
 The majority report is divided into three parts. The first part relates to the present condition of the companies, their relations with the United States, and the reme1ial measures to be adopted; tho second part reviews the financial operations of the com panies, and the third part contains answers to the various interrogations contained in the bill under which the commission was constituted.
 The Union Pacific railway is first consid- cred, it's total mileage, exclusive of branches, being stated at 1,815.l7 miles; while the total mileage of the connecting branches is 2,761 93 miles The commissioners find that these roads ''are fully provided with ter minal facilities, side tracks, station houses, and railway equipment, and, with the ex- ception of the shops, machines, and tools at Omaha, represent we'll built and we'll equipped property, which is fully able to discharge all u @ services that may be re- quired of it."
 The territory in which thess railways are located, for a distance of about 250 miles west of the Missouri river, affords abundant promise of @ future development which must largely increase the earnings of the roads. From this point west the country is less promising.
 A detailed account is given Of the branch roads constructed or acquired. The mileage of these branches exceeds the mileage of the main rt ad. The alme st unanimous voice of all the witnesses examined declares that the branch roads add largely to the earning power of the Union Pacific; many of them go so far as to assert that without these feeders the Uni.n Pacific would be bankrupted in a few years. Some of them do not pay the expense of operation. Many do not earn enough to pay interest OH cost in addition to h, expense of operation, and only few :ucceeded Tn earning surplus. But it is tt clared that this circumstance has no bear ing on the question whether tie branches are or arc not any advantage as tLere is a large profit from the earnings of business intercha nged between the branches and the main road.
 A statement furnished by the comptrol- ler's office of the Union Pacific railway show ing the net income of the auxiliary lines, etc., is inserted, and the question of the ad- vantage of the branch line system is dis cussed at length. The majority report holds that for the reason that the average haul is longer, that the freight moved is mainly in car lots, and that there is but tn. terminal on the main line for interchangel business. the cost of moving is less than betwee local points on the main line. The branches exist. ,ia,. money spent in their purchase CT con >ttuction cannot be reclaimed, and the prac- s!cai question is whether their operation, ir- spective of their cost, is or is not an a lvantage.
 Apart from the mere financial question. .:e communities served by the branch roads ;rmand their construction and extension. of inv r. %l,o 6. tiers and miners, and transform the bar r'n prairies into grain bearing farms
 The conclusion is reached that .sthe branches and main line are mutually de- Edent on each other for support and de- valupnent, and that, through their union. 'iity represent a greater relative earning power than would either the branches or the main line itself if they were dismembered. The ret earnings of the system taken for the past two years (by which is meant their gr,ss earnings less their operating expenses and taxes) have averaged $9,SOO, ,OOO, of which sum $S, POO, 900 should be credited to 'h. parent line and $1 500. 900 to the branch system. The actual value of the system may i.e approximately stated at $50, ,OOO, ,OOO"
 The total funded debt of the Union Pacific Railway company on Dec. 31, 1886, exclusive of the obligations to the United States, is placed at $S1 ,961, 127 50, of which $33 532, ,OCO was prior to the United States statutory lien. The Union Pacific railway commission has issued $4S, ,000, ,000 bonds on its main line which are subse quent to the lien Of the United States, $35, ,394, GOO t ereof being covered by securities other than that of the main line itself, such land grant and sink ing fund bonds, etc. A mortgage executed to-day to the United States would be subject to the burden of about $13, ,OOO, 900 in addition to the first mortgage and the debt due to the United States *5Jr5
 Tho majority report recommends that the payment of the indebtedness to the govern ment be extended for the period of fifty years, ample guarantees, however, being given to secure the country against any DOS sible risks.
 The minority report is very long. It objects to the extension of time for the paw ment of the debt provided for in the major ity report, and recommends an immediate winding up of the companies and the forfeiture of their charters, receiver to be thereupon appointed to provide for the immediate settlement of the government debt. The whole history of the road is denounced as a story of corruption, fraud and mismanaeement,a and it is declared that it would be better for the government to lose it's debt, or large part of it, than to con- tinue present relations any longer.
 Four bills are submitted with the majority report to apply to the four different roads. They authorize the secretary of the treasury to asc .rtain and settle the indebtedness of the roads, after the recommendation of the mittee, summarized above.
 The Massachusetts Legislature.
 BOSTON, Dec. 31.-The legislature will meet on Wednesday next. There will be no caucuses for presiding officers, as President H. J. Boardman and Speaker c. J. Noyas arc to be reelected without any opposition. The other officers will also be reelected. The annual message of the governor will be read on Thursday. It is said the gover-S nor will ad vocate the readoption of the old law establishing the contract convict sys- tenn on the ground that no other system will meet the requirements without a tremen- dous outlay to the state, the superintendent of prisons having estimated that S3S6 900
 will be required as working capital under l e new system,
 Tragedy on the Big Bridge.
 NEW YORK, Dec. 31.-A young man,
 ;:ldsomely dressed and of prepossessing appearance, shot himself in tho right temple
 while being driven across the Brooklyn l bridge ill cab yesterday afternoor 1ba